According to multiple reports, come Tuesday a big announcement could come down from Toys R' Us regarding shutting down all stores if there isn't a last-minute save to bail them out. The company filed for bankruptcy protection less than six ago.
Toys R Us could be closing up shop in the U.S.as early as the beginning of the week. In January, stores in Cherry Hill, New Jersey and Exton, Pennsylvania became a part of a growing list slated to close after the retailer entered bankruptcy a year ago.
Shares of Hasbro and Mattel slipped on the Toys R' Us news.
A vehicle drives near the main entrance for the Toys R Us global resource center, Wednesday, Jan. 24, 2018, in Wayne, N.J. Toys R Us, squeezed by Amazon.com and huge chains like Walmart, announced plans in January to close 180 USA locations and in recent days has missed payments to some suppliers as its USA division heads toward a likely liquidation.
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The retailer is expected to announce this week that it's liquidating its entire US operation, going out of business, and closing all of its 620 remaining stores.
The chain had already announced the shutdown of a Babies "R" Us location in the Holyoke Mall.
The struggles of Toys R Us have taken a toll on the two largest USA toymakers, Hasbro and Mattel. Both Hasbro and Mattel saw a decline in sales previous year, and now the toy companies are losing one of their biggest retailers.
Of course, Toys R Us isn't the only place to buy toys. David Fiorenza, an economics professor at the Villanova School of Business, said online retailers gain an advantage with tax breaks if nationwide closures happen.